When the head of Puma sportswear, Bjørn Gulden, looks out of his office window, he sees the sprawling headquarters of rival Adidas. Only a field in Bavaria separates the two largest European makers of sneakers and sportswear.
And even this barrier will soon be gone, because Puma is expanding its headquarters and will edge closer to its main competitor.
But the two companies in the quiet southern town of Herzogenaurach are only close geographically. In terms of their financial success, the sporting goods makers are worlds apart.
Adidas, known by its trademark three-stripe logo, saw its share price hit a record high last week, spurred by superb quarterly figures and an impressive forecast.
But in recent years, Puma, with its pouncing big cat logo, has been relieved if its revenues didn’t shrink.